zero-coupon — [zi′rōko͞o΄pän, zē′rōko͞o΄pän] adj. designating or of a bond sold at a discount and redeemed upon maturity at its face value, with no periodic payments of interest … English World dictionary

zero coupon bonds — are corporate or municipal debt securities that trade at a deep discount from the face value, as the bond pays no interest to the bondholders during its lifetime. Exchange Handbook Glossary Zero coupon bonds are corporate or municipal debt… … Financial and business terms